The Arab Economic and Social Development Summit, held in the State of Kuwait on 19 – 20 January 2009, endorsed the initiative of his highness the late Amir of Kuwait Sheikh Sabah Al Ahmad Al Jaber Al Sabah to create a financial facility to fund and support SMEs in Arab countries. The Arab Fund for Social and Economic Development was entrusted to establish and manage the Badir Fund.

The Arab Fund’s Board of Governors approved the establishment of this facility and its management by the Arab Fund.

The representatives of the stakeholders in the Badir Fund approved the regulations governing the Badir Fund in a meeting held in the Arab Fund headquarters on 18/10/2010.